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Carmel’s Kitchen aims to attract foodpreneurs

The Carmel Farmers Market’s Salsa Queen already is preparing for opening day, but this year Barbara Carter has the luxury of slicing and dicing in her own commercial kitchen.

Cummins earnings widely miss predictions

The Indiana-based engine maker announced a larger-than-expected drop in quarterly profit Tuesday morning, as revenue fell 12 percent on weak demand for its products in domestic and international markets.

Republic shares fall despite rare first-period profit

Republic Airways Holdings Inc. reported a first-quarter profit for the first time in four years Monday, but the company's stock fell Tuesday morning after the performance missed analyst forecasts.

Construction

Mattingly Construction has completed a 6,000-square-foot restaurant build-out for Delicia at 5215 N. College Ave.

People

Michael B. Drew has joined Colliers International as senior vice president of multifamily and investment services.

Residential

The average rate for 30-year mortgages fell from 3.61 percent to 3.57 percent for the week ended April 24, according to Bankrate.com. The rate for 15-year mortgages fell from 2.85 percent to 2.8 percent.

Leases/leasing contracts

-HG Metals Inc. leased 25,950 square feet of industrial space at 1670 1740 Wales Ave. / 3970 3974 E. 16th St. The tenant was represented by JD Graves of CBRE. The landlord, Brookside Industrial Park LLC, was represented by Fritz Kauffman and Michael Weishaar of Cassidy Turley.

-Petco Animal Supplies Stores Inc. leased 12,500 square feet of retail space at 7565 U.S. 31 South. The landlord, Nationwide Investments, was represented by Bill French of Cassidy Turley. The tenant represented itself.

-Krav Maga Training Center leased 6,169 square feet of retail space in Fishers Crossing, 7266 Fishers Crossing Drive, Fishers.  The tenant was represented by Stephen Ladig of Ladig Realty. The landlord, Viking Partners Fishers LLC, was represented by Jamison Downs, Seth Biggerstaff and Kyle Hughes of Veritas Realty.

-Delicia leased a 6,000-square-foot freestanding retail building at 5215 N. College Ave. The landlord, Glendale Partners of South Broad Ripple LLC, was represented by Kyle Hughes and Paul Rogozinski of Veritas Realty. The tenant represented itself.
 
-MedExpress Urgent Care leased 4,803 square feet of retail space at 4903 S. Emerson Ave.  The tenant was represented by Harley Carroll of Petroplus Lane  LLC. The landlord, Kovacs Enterprises LLC, was represented by Jamison Downs and Seth Biggerstaff of Veritas Realty.

-Mattress World leased 3,200 square feet of retail space in Emerson Commons, 6814 S. Emerson Ave. The tenant was represented by Jamison Downs and Kyle Hughes of Veritas Realty. The landlord, First Emerson Commons Way LLC, was represented by John Baker, Tom English and Larry Davis of Sitehawk Retail Real Estate.

-Divine Savior Lutheran Church leased 3,000 square feet of retail space in Village at Main, 11361 Village Square Lane, Fishers. The tenant was represented by Seth Biggerstaff of Veritas Realty. The landlord, Jordan Fishers LLC, was represented by Keith Dedrick of Corporate Commercial Group.

-Yats leased 2,453 square feet at Trail Side, 885 and 887 Massachusetts Ave.  The tenant was represented by Gary Perel of Newmark Knight Frank Halakar. The landlord, Trail Side Retail Flats LLC, was represented by Mike Sprovtsoff Jr. of Monument Realty.  
 
-Matthew Sutika Agency/State Farm leased 2,400 square feet at The Pavilion at Castleton, 5953 E 86th St. The tenant was represented by Mark Perlstein of Sitehawk Retail Real Estate. The landlord, Stough Associates LP, was represented by Greg Smith and Joe Tarpey of Colliers International.  
 
-Jordan’s Fish & Chicken leased 1,600 square feet of retail space in Shadeland Crossing, 7534 N. Shadeland Ave. The landlord, Glendale Partners of Geist Crossing II LLC, was represented by Kyle Hughes, Paul Rogozinski, and Seth Biggerstaff of Veritas Realty. The tenant represented itself.

-BizCard Express leased 1,200 square feet of retail space in Geist Crossing Shoppes, 9745 Fall Creek Road.  The landlord, Glendale Partners of Shadeland Shoppes LLC, was represented by Kyle Hughes, Paul Rogozinski, and Seth Biggerstaff of Veritas Realty. The tenant represented itself.

-Any Lab Test Now leased 1,200 square feet at Avon Crossing, 7810 E. U.S. 36, Avon. The landlord, Cranfill Development Corp, was represented by Michael Cranfill of Sitehawk Retail Real Estate. The tenant represented itself.

-GM Sportswear leased 699 square feet of office space at 5455 W. 86th St. The landlord, Polaris Commercial Investments, was represented by Dan Baldini of Polaris Real Estate. The tenant represented itself.
 

Sales/acquisitions

-Larsen Holdings bought a 10,208-square-foot office building at 3843 3845 N. Meridian St. The seller, 3rd General, was represented by Spud Dick and Mike Semler of Cassidy Turley. The buyer represented itself.  

-Brookville Storage bought 3.64 acres of industrial land in Interchange Business Park, 7501 Brookville Road. The buyer was represented by Mike Kensill of Lee & Associates. The seller, First Industrial Realty Trust, was represented by Brian Buschuk of Jones Lang LaSalle.

-Hecker's Fitness LLC bought 0.58 of an acre at State Road 334 and West Stonegate Drive, Zionsville. The seller, Reitz Group Inc., was represented by Bo Leffel of Cassidy Turley. The buyer represented itself.

Hostess to open bakery in Indianapolis

Hostess Brands LLC said Monday that it will open bakeries in Indiana and Illinois, following announcements last week that it will reopen bakeries in Georgia and Kansas in its effort to bring back some of its snack brands.

People

Pamela London has been named vice president of cardiovascular services for Indianapolis-based hospital system Community Health Network. London previously founded and led Family Health Advocates Inc., a patient advocacy consulting company that offers quality care options to Canadian citizens. She holds a bachelor’s in nursing from the University of Western Ontario, London, Canada.

The Indianapolis Coalition for Patient Safety named James Fuller its president. Fuller comes to the coalition from Wishard Health Services where he worked nearly 27 years, most recently as vice president of clinical support services. Fuller replaces Carol Birk, who had been president of the coalition since 2009. The coalition is composed of chief executive, medical, nursing, quality, safety and pharmacy officers from six Indianapolis hospital systems. Fuller holds a bachelor’s and a doctorate in pharmacy from Purdue University.

Company news

New WellPoint Inc. CEO Joe Swedish threw cold water April 24 on widespread speculation that he will lead the company through a new wave of hospital and doctor acquisitions. Swedish, 61, had spent his entire career managing hospitals, including the past eight years as CEO of Michigan-based Trinity Health Corp., a Catholic hospital system. But in spite of many questions about the prospect, he’s not looking to get back in that business. “To be clear, I do not currently see vertical integration as a likely path for WellPoint,” Swedish said during an investor conference call Wednesday morning. “The models are so divergent that it just does not seem to be the best use of capital.” Analysts, investors, local health care providers and even WellPoint’s own employees have been asking about the possibility of WellPoint's acquiring hospitals and doctors since Swedish was named in mid-February to replace former WellPoint CEO Angela Braly. Instead, Swedish emphasized that WellPoint is moving to work more closely with health care providers than the confrontational stand that it and most health insurers have taken in the past. But he spoke about new kinds of contracts, rather than acquisitions.

A pharmacy that makes specialty medications is recalling nearly 100 compounded drugs after federal regulators found potential safety problems during an inspection. Nora Apothecary Alternative Therapies of Indianapolis says it is recalling all sterile drugs that have not reached their expiration date. The drugs were made on or before April 19. The company said it initiated the recall after the Food and Drug Administration found quality control problems that threaten the sterility of its products. If compounded drugs are not sterile, they can cause infections, though the company said it has not received any reports of illness.

Record sales of seeds and new crop protection products helped boost Dow AgroSciences LLC revenue 14 percent in the first quarter, leading to record profit. The Indianapolis-based maker of agricultural products, a unit of Michigan-based Dow Chemical Co., brought in $2.1 billion in revenue compared with $1.7 billion a year earlier. Profit in the latest quarter totaled $484 million before accounting for interest, taxes, depreciation and amortization. That was a 7-percent jump from $451 million a year earlier, Dow Chemical reported April 25. Sales of crop protection products swelled 7 percent, driven by gains in North America and Latin America. Sales of seeds, genetic traits and oils rocketed 37 percent, due in part to strong demand for the firm’s genetically modified SmartStax products.

Eli Lilly and Co. said the Food and Drug Administration will perform a priority evaluation of its experimental stomach cancer drug ramucirumab under a program designed for drugs that treat serious or life-threatening diseases for which there are few other therapies. According to the Associated Press, this fast-track status gives companies extra meetings and correspondence with regulators throughout the review process, and it allows the drugmaker to submit data as it compiles it. Lilly is seeking approval for ramucirumab as a second treatment in patients with gastric and gastroesophageal junction cancers that have spread. In the first quarter, Lilly's earnings jumped 53 percent largely due to a $495 million payment for the transfer to former drug development partner Amylin Pharmaceuticals of commercial rights outside the United States for the diabetes treatment exenatide. Lilly earned $1.55 billion, or $1.42 per share, in the three months that ended March 31. Not counting the exenatide payment, Lilly reported adjusted earnings of $1.14 per share. Analysts expected, on average, earnings of $1.05 per share.

WellPoint Inc. reported better-than-expected financial results for the quarter ended March 31. The Indianapolis-based health insurer earned $885.2 million in the first three months of the year, or $2.89 per share. Profit was 3.4 percent higher than in the same quarter a year ago. Excluding investment losses and other extraordinary charges, the company would have earned $2.94 per share, a nearly 26-percent increase over the same quarter last year. On that basis, analysts were expecting profit of $2.38 per share, according to a survey by Thomson Reuters. The higher earnings prompted WellPoint to raise its full-year profit forecast to $7.75 per share, up from its previous prediction of $7.60 per share.

No more Legends or Leaders

The Big Ten Conference will realign its divisions when Rutgers University and the University of Maryland join the league in 2014, it announced last night. The 14-team conference will do away with the names “Legends” and “Leaders” for the divisions and instead use East and West. Indiana University will play in the East and Purdue University will play in the West.

Man shot by police officer

A 23-year-old man shot by an Indianapolis police officer Sunday had a previous felony conviction for robbery. Braunel Mackey, 23, was charged with possession of a firearm by a serious violent felon after the shooting in the 4800 block of East 19th Street. Mackey allegedly was holding his girlfriend at gunpoint and threatening to kill her when he was shot by the officer.